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Turkmenistan mulling cooperation prospects with Saudi Arabia

Ashgabat has hosted round table discussions on the Turkmen-Saudi relations, the Turkmen Foreign Ministry said in a message on November 27. The event was held at the Institute of International Relations of the Ministry of Foreign Affairs of Turkmenistan. The Saudi delegation was represented by Rector of the Institute of Diplomatic Studies under the Ministry of Foreign Affairs of the Kingdom...

Turkmenistan to deliver energy resources through Caspian region

Turkmenistan is ready to use the East-West internal gas pipeline to supply its energy resources to international markets through the Caspian region. After the commissioning of the East-West gas pipeline in December 2015, great prospects were opened for further expansion of multilateral mutually beneficial partnership in the energy sector, says the report. Construction of various infrastructure facilities along the East-West gas...

Estonia: Saaremaa exploring possibility of Riga-Kuressaare ferry link

While those discussing establishing a direct ferry link between Saaremaa and Latvia have had in mind reestablishing service between Montu and Ventspils, others familiar with the tourism industry find that only a direct link with the Latvian capital of Riga would ensure a significant boost in revenue for the island. Saaremaa Municipality hopes to find an operator for the boat...

Kyrgyzstan: National Bank conducts 8 interventions in a month

The National Bank of Kyrgyzstan has entered the currency market, selling dollars, for the eighth time in a month, its official website reported. $4.5 million was sold with settlements on the date of the transaction and $500,000 with settlements other than the date of the transaction. In November, the National Bank sold $38.2 million to stabilize the dollar. Note, the intervention didn't...

Ukraine to issue $2 billion in bonds in 2018

Ukraine hopes to receive the next payment of its $17.5 billion IMF program early next year and will aim to issue $2 billion on debt markets in 2018, finance minister Oleksandr Danyliuk declared. Oleksandr Danyliuk said that progress on the International Monetary Fund's rescue plan depended on establishing a new anti-corruption court, as well as a final agreement on gas...

Ukraine: economic growth projected at over 3% in 2018

Prime Minister of Ukraine Volodymyr Groysman is confident that the country's economic growth in 2018 will top 3%, the benchmark stipulated in the draft national budget. "I am absolutely convinced that we will be able to achieve economic growth exceeding 3% next year," he declared. According to the prime minister, the accelerated economic growth will not only create jobs and increase...

Turkmenistan: MoU with Afghanistan on railway construction signed

The Turkmen Railway Transport Ministry and the Afghanistan Railway Authority have signed an agreement, which will give additional impetus to Afghanistan's economic development and provide possibilities for the country's access to third states. The MoU envisages a major overhaul of the railway track at the border station of Torgundi in Afghanistan. During the signing ceremony in Ashgabat, representatives of the Afghan...

Ukraine: Cherkasy’s Azot resumes ammonia and carbamide production

Ukraine's manufacturer of mineral fertilizers Cherkasy-based PJSC Azot, a part of the Ostchem holding owned by businessman Dmytro Firtash, has resumed the production of ammonia and carbamide after overhauls, according to Ostchem's press service. "After major repairs, the company has resumed production of ammonia (workshop A-5) and carbamide (workshop M-2)," it wrote on Facebook. In late May Ukraine's Interdepartmental Commission on...

Estonia: tax burden higher than OECD average in 2016

Estonia had a tax-to-GDP ratio of 34.7% in 2016, slightly higher than the average ratio for member states of the Organization for Economic Cooperation and Development (OECD), figures available from the organization show. Estonia's VAT burden was 14.9%, income tax burden 7.8%, social tax burden 11.6% and property tax burden 0.3%. On aggregate, the average tax-to-GDP ratio for all OECD member...

Belarus: new taxes shelved till 2020

Current taxes will not be raised and no new taxes will be introduced in Belarus till 2020. The provisions are stipulated by Ordinance No. 7 "On entrepreneurship development", which the head of state signed on November 23. The ordinance prohibits raising tax rates and introducing new taxes, fees, and duties till 2020. Commercial entities, which retail their products online, will...